Anticipated downturn in Vine Coin value this week: Could a 10% drop be imminent?
The Vine Coin (VINE) price prediction for the next week shows a mixed outlook, with potential for bullish reversals if key support levels hold, but also risks of bearish pressure due to recent volume drops and corrections.
Bullish Potential
If Vine Coin manages to hold the $0.150 to $0.153 support zone, bulls may push for a retest of resistance near $0.172, and potentially rally towards $0.185 to $0.190. Technical indicators like the EMA cluster (20/50/100/200 on 4H) are positioned below the price, indicating a bullish alignment.
A large whale buying spree, spending $3.19 million from Solana to acquire VINE tokens, suggests significant capital inflow amid a recent surge. Elon Musk’s AI-driven Vine relaunch announcement catalyzed strong gains in late July, lifting VINE over 139%, which could underpin renewed investor interest if momentum resumes.
Bearish Risks
However, bearish risks remain relevant. There was a sharp drop in volume (21% drop reported in early August), which dampens the recovery outlook. VINE experienced a heavy 30% price drop on August 2, signaling downside pressure and weak buying momentum.
Short-term indicators like RSI on a 15-minute scale have cooled from overbought, and a bearish MACD crossover is forming, suggesting consolidation or pullback could continue. If the price falls below $0.150, key downside supports to watch are at $0.138 and further at $0.120.
Key Levels to Watch for Next Week
| Level Type | Price (USD) | Significance | |------------|-------------|---------------------------------| | Support 1 | $0.150-$0.153 | Crucial short-term bullish pivot | | Support 2 | $0.138 | Next downside target on weakness | | Support 3 | $0.120 | Stronger support if breakdown | | Resistance 1 | $0.172 | First major hurdle for rally | | Resistance 2 | $0.185-$0.190 | Extended bullish breakout target |
Summary
Bullish reversal is possible if $0.150-$0.153 support holds, backed by bullish EMA alignment and inflows. A decisive break above $0.172 could trigger a continued rally, potentially to $0.185-$0.190. Momentum indicators suggest caution with potential short-term consolidation or weak pullbacks.
If support breaks, VINE may test $0.138 and $0.120 supports, signaling bearish continuation. Investor sentiment is strongly influenced by Elon Musk’s AI-related announcements and large whale movements, but volume weakness tempers near-term optimism.
Over the coming week, investors should monitor volume, RSI/MACD signals, and the $0.150 support zone closely for signs of confirmed bullish reversal or deeper retracement. The Stochastic RSI oscillator for VINE is approaching a bearish crossover, and the overall outlook for Vine Coin remains bearish, with a move past $0.078 being the first step in potential recovery.
- If crypto investors keep a close eye on the price of Vine Coin (VINE), they will notice that its potential rally towards $0.185 to $0.190 could stem from a bullish reversal occurring at the $0.150 to $0.153 support zone, aided by a bullish alignment showed by the EMA cluster.
- Investors in the crypto and altcoins market should also be aware of the bearish risks associated with Vine Coin, such as the recent volume drop and corrections, which could contribute to bearish pressure or further price drops below key downside supports, like $0.138 and $0.120.
- As the finance world eagerly anticipates the next week, investors should closely monitor the price action of Vine Coin, along with technical indicators like the RSI, MACD, and Stochastic RSI oscillator, to determine signs of a confirmed bullish reversal or deeper retracement, influenced by factors such as Elon Musk’s AI-related announcements and large whale movements.
